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Warrant Liability (Tables)

6 Months Ended

Jun. 30, 2024

Short-Term Debt [Line Items]

Schedule of Derivative Liability Transactions

The details of warrant liability transactions were as follows:

 Schedule of Derivative Liability Transactions

		June 30, 2024				June 30, 2023
		Six Months Ending
		June 30, 2024				June 30, 2023
		(Unaudited)				(Unaudited)
Beginning balance		$	1,052,000			$	—
Issuance of warrants at fair value			—				5,831,000
Change in fair value			(775,000	)			(4,311,000	)
Extinguishment			—				—
Ending balance		$	277,000			$	1,520,000

2023 Warrants [Member]

Short-Term Debt [Line Items]

Schedule of Derivative Liabilities Assumptions

The 2023 Warrant liability is valued using a Binomial pricing model with the following assumptions:

 Schedule of Derivative Liabilities Assumptions

		2023 Warrants
		June 30, 2024				December 31, 2023
		(Unaudited)				(Unaudited)
Stock price		$	2.83			$	7.80
Risk-free interest rate 1			4.43	%			4.26	%
Expected volatility 2			116	%			115	%
Expected life (in years) 3			3.5 - 4.0				4.25
Expected dividend yield 4			—				—
Fair value of warrants		$	277,000			$	1,050,00

¹ Based on rates established by the Federal Reserve Bank

² Historical volatility of the Company’s common stock is used to estimate the future volatility of its common stock

³ Determined by the remaining contractual life of the derivative instrument

⁴ Based on no dividends paid or expected to be paid

2020 Warrants [Member]

Short-Term Debt [Line Items]

Schedule of Derivative Liabilities Assumptions

The 2020 Warrant liability is valued using a Binomial pricing model with the following assumptions:

 Schedule of Derivative Liabilities Assumptions

		2020 Warrants
		June 30, 2024				December 31, 2023
		(Unaudited)
Stock price		$	2.83			$	7.80
Risk-free interest rate 1			5.09	%			4.54	%
Expected volatility 2			116	%			89	%
Expected life (in years) 3			1.0				1.6
Expected dividend yield 4			—				—
Fair value of warrants		$	—			$	2,000

1		Based on rates established by the Federal Reserve Bank
2		Historical volatility of the Company’s common stock is used to estimate the future volatility of its common stock
3		Determined by the remaining contractual life of the derivative instrument
4		Based on no dividends paid or expected to be paid

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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